THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Press release…
The total exports of the cereals, pulses, oil seeds and products sector, which includes basic food products such as biscuits, wheat flour, vegetable oils, sugary and cocoa products and pasta, surged by 6.9 percent to 5.9 billion dollars at the end of 6 months of the year. In the first half of the year, the products exported by the cereal producers, whose exports soared by 25 percent on quantity basis, reached 6.2 million tonnes in total. In the six-month period in which the revenue obtained from Iraq, the largest export destination, increased by 10.7 percent, the USA ranked second in the exports of the sector. In this period, exports of biscuits and pastry, vegetable oil and wheat flour totalled 811 million dollars, 696 million dollars and 675 million dollars, respectively.
Ahmet Tiryakioğlu, Chairman of Turkish Exporters’ Assembly (TIM) Cereals, Pulses, Oil Seeds and Products Sector Board, evaluated the repercussions in the wheat market in the axis of domestic and international developments and said, “The global effects of the wheat import ban imposed by Türkiye as follows; the easing in grain prices continues, especially in Russia and the US, with the expectation of high production due to increased precipitation. The revision of wheat purchase prices in Türkiye at rates that prioritise the fight against inflation and the imposition of an import ban on wheat also have a downward impact on the global prices of wheat as an agricultural commodity.”
Pointing out that at a time when global product supply is rising and money supply is limited, Tiryakioğlu added, “Türkiye is pursuing a balanced trade policy. When wheat imports are allowed again, we can find favourable prices for wheat, which we will supply as raw material input for our different sectors in the food sector, especially the pasta sector.”
